An international children’s charity collects donations, which are used to buy clothing and toys for children in need. The charity records donations of cash and other items as Donations Revenue when received. a. Received $4,000 in cash and checks from a door-to-door campaign. b. Paid $2,000 cash for employee wages this month. c. Paid $1,000 cash on a loan from the bank (ignore interest). d. Bought $3,000 worth of new toy supplies from a large toy manufacturer, paying $1,000 cash and signing a short-term note for $2,000. e. The manufacturer generously donated an additional $2,500 of toy supplies. Required: Prepare journal entries for the above transactions, which occurred during a recent month. (Omit the "$" sign in your response.) General Journal Debit Credit a. Cash Donations revenue b. Wages expense Cash c. Bank loan payable Cash d. Supplies Cash Note payable e. Supplies Donations revenue

An international children’s charity collects donations, which are used to buy clothing and toys for children in need. The charity records donations of cash and other items as Donations Revenue when received.

 

a.	Received $4,000 in cash and checks from a door-to-door campaign.
b.	Paid $2,000 cash for employee wages this month.
c.	Paid $1,000 cash on a loan from the bank (ignore interest).
d.	Bought $3,000 worth of new toy supplies from a large toy manufacturer, paying $1,000 cash and signing a short-term note for $2,000.
e.	The manufacturer generously donated an additional $2,500 of toy supplies.

Required:

Prepare journal entries for the above transactions, which occurred during a recent month. (Omit the "$" sign in your response.)

 

	General Journal	Debit	Credit
a.	Cash
	Donations revenue
b.	Wages expense
	Cash
c.	Bank loan payable
	Cash
d.	Supplies
	Cash
	Note payable
e.	Supplies
	Donations revenue